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This paper argues that different types of trade liberalization {
multilateral versus regional { may lead to different R&D and productivity
levels of firms. Trade agreements between countries are modelled with a
network: nodes represent countries and a link between the nodes indicates
the existence of a trade agreement. In this framework, the multilateral
trade agreement is represented by the complete network while the overlap of
regional trade agreements is represented by the hub-and-spoke trade system.
Trade liberalization, which increases the network of trade agreements,
reinforces the incentives for firms to invest in R&D through the creation of
new markets (scale effect) but it may also dampen these incentives through
the emergence of new competitors (competition effect). The joint action of
these two effects within the multilateral and the regional trade systems
gives rise to the result that, for the same number of direct trade partners,
the R&D effort of a country in the multilateral agreement is lower than the
R&D effort of a hub but higher than the R&D effort of a spoke. This suggests
that a “core” country within the regional trade system has higher R&D and
productivity level than a country with the same number of trade agreements
within the multilateral system whereas the opposite is true for a
“periphery” country. Additionally, the paper finds that while multilateral
trade liberalization boosts productivity of all countries, regional trade
liberalization increases productivity of core economies but may decrease
productivity of periphery economies if the level of competition in the new
trade partner countries of the periphery economy is “too high”. Furthermore,
the aggregate level of R&D activities within the multilateral trade
agreement exceeds that in the star { the simplest representative of the
hub-and-spoke trade system.
No: ERSD-2009-03
Auteurs:
Mariya Teteryatnikova — European University Institute
Date de
rédaction: novembre 2008
Mots clés:
Trade, multilateralism, regionalism, R&D,
network, oligopolistic competition
Cotes JEL:
O31, D85, D43, F13
Avertissement haut de page
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de travail et concerne donc des recherches en cours. Il témoigne de
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ni la position officielle des fonctionnaires de l'OMC. Ses auteurs sont
seuls responsables en cas d'erreur. Des exemplaires de ce document peuvent
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Organisation mondiale du commerce, rue de Lausanne 154, CH-1211 Genève 21,
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